Nigerian government to encourage concessionary funding for SMEs

Nigerian President Muhammadu Bahuri said in a speech last Wednesday that the federal government will encourage making well-planned funding initiatives available to micro, small and medium scale enterprises.

Buhari noted that the SME Financing Conference with the theme “Bridging the Nigerian SME Funding Gap” convened by the Kaduna State Chapter of the Nigerian-American Chamber of Commerce and the Economic Affairs Section of the United States Embassy will assist in ensuring that credit reaches the larger population through working with cooperatives and trade organizations.

Nigeria’s government is working towards engaging more with small and medium scale entrepreneurs to help ensure a sustainable economic development and create wealth within the country.

Buhari remarked that the administration will continue to put in place innovative policies and programs towards ensuring that funds get to SMEs because they form the pivot of any meaningful growth and development in the industrial sector.